http://www.tulsaworld.com/business/article.aspx?subjectid=49&articleid=20111206_298_0_Aweeka988268
Michael Boyd, president of the Boyd Group International, said the retirements of Reding and Burdette may simply mean their long service in the airline industry have earned them retirement pay and benefits too good to turn down.
“I think it’s a $1.8 million lump sum retirement (bonus) alone (for Reding),” Boyd said. “Reding’s been in the business for 30 or 40 years. I wouldn’t read too much into that (retirement).”
Boyd said AMR executives will be cutting near-term costs but incurring long-term expenses and problems if they elect to downsize the company’s in-house maintenance capabilities in favor of outsourcing.
“I don’t believe it (maintenance) can be done any cheaper at an airline like American,” Boyd said. “You already have the expertise and the team in place — and they want to fix airplanes.
“Maintenance is not the problem: It has to do with debt and pensions. Period.”
In its bankruptcy filing, AMR listed assets of $24.72 billion and liabilities of $29.55 billion
Read more from this Tulsa World article at http://www.tulsaworld.com/business/article.aspx?subjectid=49&articleid=20111206_298_0_Aweeka988268
Michael Boyd, president of the Boyd Group International, said the retirements of Reding and Burdette may simply mean their long service in the airline industry have earned them retirement pay and benefits too good to turn down.
“I think it’s a $1.8 million lump sum retirement (bonus) alone (for Reding),” Boyd said. “Reding’s been in the business for 30 or 40 years. I wouldn’t read too much into that (retirement).”
Boyd said AMR executives will be cutting near-term costs but incurring long-term expenses and problems if they elect to downsize the company’s in-house maintenance capabilities in favor of outsourcing.
“I don’t believe it (maintenance) can be done any cheaper at an airline like American,” Boyd said. “You already have the expertise and the team in place — and they want to fix airplanes.
“Maintenance is not the problem: It has to do with debt and pensions. Period.”
In its bankruptcy filing, AMR listed assets of $24.72 billion and liabilities of $29.55 billion
Read more from this Tulsa World article at http://www.tulsaworld.com/business/article.aspx?subjectid=49&articleid=20111206_298_0_Aweeka988268
